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Author Question: The recipient of a gift within the allowable amount (Read 100 times)

Metfan725

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Question 1

A tax-free gift of up to ________ per year in 2015 can be given to another person.


◦ $1,000
◦ $5,000
◦ $14,000
◦ $20,000

Question 2

The recipient of a gift within the allowable amount


◦ does not have to report the gift, and it is not subject to taxes.
◦ does have to report the gift, and it is subject to taxes.
◦ must pay tax on the gift at the capital gains rate.
◦ must pay tax on the gift at the ordinary income rate.


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Marked as best answer by Metfan725 on Apr 14, 2019

stallen

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Metfan725

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Excellent



stallen

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Great! Please up vote :D



 

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